Part 6-5—Dictionary definitions
(1) In this Act, except so far as the contrary intention appears:
4% manner has the meaning given by section 43-145.
100% subsidiary has the meaning given by section 975-505.
abnormal trading has the meaning given by Subdivision 960-H.
adopted child of a person means someone the person has adopted:
(a) under the law of a State or Territory about adoption of children; or
(b) under a *foreign law about adoption of children, if the adoption would be recognised as valid under the law of a State or Territory.
allowable capital expenditure has the meaning given by sections 330-85, 330-90 and 330-95.
amount includes a nil amount.
ancillary activities has the meaning given by section 330-445.
apartment building has the meaning given by section 43-95.
approved deposit fund has the meaning given by section 10 of the Superannuation Industry (Supervision) Act 1993.
approved stock exchange has the meaning given by section 470 of the Income Tax Assessment Act 1936.
arrangement means any arrangement, agreement, understanding, promise or undertaking, whether express or implied, and whether or not enforceable (or intended to be enforceable) by legal proceedings.
assessable film income has the meaning given by section 375-805.
assessable income has the meaning given by sections 6-5, 6-10 and 6-15.
Note: For income years before 1997-98, assessable income has the meaning given by section 6-3 of the Income Tax (Transitional Provisions) Act 1997.
assessment has the meaning given by subsection 6(1) of the Income Tax Assessment Act 1936.
associate has the meaning given by section 318 of the Income Tax Assessment Act 1936.
Australian law means a *Commonwealth law, a *State law or a *Territory law.
Australian resident means a person who is a resident of Australia for the purposes of the Income Tax Assessment Act 1936.
Australian source: *ordinary income or *statutory income has an Australian source if, and only if, it is *derived from a source in Australia for the purposes of the Income Tax Assessment Act 1936.
available assessable income has the meaning given by sections 330-300 and 330-305.
available expense has the meaning given by section 175-30.
available income has the meaning given by section 175-30.
award transport payment has the meaning given by section 900-220.
business includes any profession, trade, employment, vocation or calling, but does not include occupation as an employee.
business kilometres has the meaning given by sections 28-25, 28-50, 28-75 and 28-90.
business travel expense has the meaning given by section 900-95.
business use percentage has the meaning given by section 28-90.
capital allowance has the meaning given by section 40-10.
capital shareholding of less than 1% has the meaning given by section 166-240.
car means a *motor vehicle (except a motor cycle or similar vehicle) designed to carry a load of less than 1 tonne or fewer than 9 passengers.
car expense has the meaning given by section 28-13.
car-less day has the meaning given by section 28-45.
cash bidding exploration or prospecting authority has the meaning given by section 330-170.
club means a company that was established or is carried on mainly to provide facilities, for the use or benefit of its *members, for drinking, dining, *recreation or entertainment.
Commissioner means the Commissioner of Taxation.
Note: The office of Commissioner of Taxation is created by section 4 of the Taxation Administration Act 1953.
Commonwealth law means a law of the Commonwealth.
company means:
(a) a body corporate; or
(b) any other unincorporated association or body of persons;
but does not include a partnership.
complying approved deposit fund means a complying approved deposit fund within the meaning of section 47 of the Superannuation Industry (Supervision) Act 1993.
complying superannuation fund means a complying superannuation fund within the meaning of section 45 of the Superannuation Industry (Supervision) Act 1993.
concentration has the meaning given by section 330-390.
constitution of a company means the memorandum and articles of association of the company, or any other rules or document constituting the company or governing its activities.
construction expenditure has the meaning given by section 43-70.
construction expenditure area has the meaning given by section 43-75.
continuing shareholders has the meaning given by sections 175-10, 175-20 and 175-25.
deduct has the meaning given by sections 8-1 and 8-5.
deduction means an amount that you can deduct.
Note: For income years before 1997-98, deduction has the meaning given by section 8-3 of the Income Tax (Transitional Provisions) Act 1997.
deduction year has the meaning given by section 170-20.
derive has a meaning affected by subsection 6-5(4).
dividend has the meaning given by subsections 6(1), (4) and (5) and section 94L of the Income Tax Assessment Act 1936.
dividend shareholding of less than 1% has the meaning given by section 166-240.
dual resident investment company has the meaning given by section 6F of the Income Tax Assessment Act 1936.
eligible building site has the meaning given by section 330-445.
eligible mining operations has the meaning given by section 330-30.
eligible mining or quarrying operations has the meaning given by section 330-30.
eligible quarrying operations has the meaning given by section 330-30.
entitlement to an eligible cash bidding amount has the meaning given by section 330-175.
entity has the meaning given by section 960-100.
excess deduction rules has the meaning given by section 330-480.
excluded exempt income has the meaning given by section 36-20.
excluded loss has the meaning given by section 175-5.
exempt Australian government agency means:
(a) the Commonwealth, a State or a Territory; or
(b) an authority of the Commonwealth, or of a State or Territory, if *ordinary income *derived by the authority would be exempt from income tax because of a provision referred to in the definition of relevant exempting provision in section 160K of the Income Tax Assessment Act 1936.
exempt film income has the meaning given by section 375-805.
exempt foreign government agency means:
(a) the government of a foreign country, or of part of a foreign country; or
(b) an authority of the government of a foreign country, if the authority is of a similar nature to an authority that is an *exempt Australian government agency; or
(c) an authority of the government of part of a foreign country, if the authority is of a similar nature to an authority that is an *exempt Australian government agency.
exempt income has the meaning given by section 6-20.
Note: For income years before 1997-98, exempt income has the meaning given by section 6-20 of the Income Tax (Transitional Provisions) Act 1997.
exempt income subject to withholding tax has the meaning given by section 36-20.
exploration or prospecting has the meaning given by section 330-20.
exploration or prospecting authority has the meaning given by section 330-165.
exploration or prospecting cash bidding payment has the meaning given by section 330-165.
film component of a *tax loss has the meaning given by:
(a) section 375-805 of this Act; and
(b) section 375-105 (Film component of tax loss for 1989-90 to 1996-97 income years) of the Income Tax (Transitional Provisions) Act 1997.
film deductions has the meaning given by section 375-805.
film loss has the meaning given by section 375-810.
financial year means a period of 12 months beginning on 1 July.
foreign law means a law of a foreign country.
Note: Foreign country is defined in paragraph 22(1)(f) of the Acts Interpretation Act 1901.
full year amounts has the meaning given by section 165-60.
full year car deduction has the meaning given by section 28-45.
full year deductions has the meaning given by subsection 165-55(5).
general deduction has the meaning given by section 8-1.
genuine prospector has the meaning given by section 330-60.
group heading has the meaning given by section 950-100.
Guide has the meaning given by section 950-150.
head company has the meaning given by section 166-220.
held: see hold.
hold a car has the meaning given by section 28-90.
hotel building has the meaning given by section 43-95.
housing and welfare means:
(a) residential accommodation; or
(b) health, eduction, recreation or similar facilities, or facilities for meals; or
(c) works carried out directly in connection with such accommodation or facilities, including works for providing water, light, power, access or communications.
in a position to affect rights has the meaning given by section 975-150.
income company has the meaning given by section 170-10.
income tax means income tax imposed by any of these:
(a) the Income Tax Act 1986;
(b) the Income Tax (Diverted Income) Act 1981;
(c) the Income Tax (Former Complying Superannuation Funds) Act 1994;
(d) the Income Tax (Former Non-resident Superannuation Funds) Act 1994;
(e) the Income Tax (Fund Contributions) Act 1989.
income tax return means a return under section 161, 162 or 163 of the Income Tax Assessment Act 1936.
income year: the basic meaning is given by subsections 4-10(2) and 9-5(2). Some provisions refer to a particular income year. (They may describe it in different ways: for example, as the income year ending on 30 June 1998, or the 1997-98 income year.) For an entity that adopts an accounting period in place of the particular income year, the reference includes that accounting period.
Note: The Commissioner can allow you to adopt an accounting period ending on a day other than 30 June. See section 18 of the Income Tax Assessment Act 1936.
indirectly: persons have the right to receive *dividends or capital of a company indirectly for their own benefit if they would receive the dividends or capital for their own benefit if:
(a) the company were to pay or distribute the dividends or capital; and
(b) the dividends or capital were then successively paid or distributed by each entity interposed between the company and those persons.
individual means a natural person.
industrial activities has the meaning given by section 43-150.
industrial instrument means:
(a) an *Australian law; or
(b) an award, order, determination or industrial agreement in force under an *Australian law.
in existence has the meaning given by section 975-100.
injected income has the meaning given by sections 175-10 and 175-20.
instalment of petroleum resource rent tax has the meaning given by section 330-350.
interposed company has the meaning given by section 166-225.
laundry expense has the meaning given by section 900-40.
leasing company has the meaning given by section 82AQ or 680, as appropriate, of the Income Tax Assessment Act 1936.
legal personal representative means:
(a) an executor or administrator of an estate of a person who has died; or
(b) a trustee of an estate of a person who is under a legal disability; or
(c) a person who holds a general power of attorney that was granted by another person.
listed public company means a company that satisfies all of these conditions:
(a) any of the *shares (except shares that carry a right to a fixed rate of *dividend) in the company are listed for quotation in the official list of an *approved stock exchange;
(b) more than 20 persons (none of them companies) between them control, or are able to control, 75% or more of voting power in the company (whether directly, or indirectly through one or more interposed entities);
(c) more than 20 persons (none of them companies) have between them the right to receive for their own benefit (whether directly, or *indirectly through one or more interposed entities) 75% or more of any *dividends that the company may pay;
(d) more than 20 persons (none of them companies) have between them the right to receive for their own benefit (whether directly, or *indirectly through one or more interposed entities) 75% or more of any distribution of capital of the company.
loss company has the meaning given by section 170-10.
loss year has the meaning given by sections 36-10, 165-70 and 175-35.
meal allowance has the meaning given by section 900-30.
meal allowance expense has the meaning given by section 900-30.
member of a company includes a shareholder or stockholder.
minerals has the meaning given by section 330-25.
mining authority has the meaning given by section 330-155.
mining cash bidding payment has the meaning given by section 330-155.
mining or quarrying transport has the meaning given by section 330-385.
mining, quarrying or prospecting information has the meaning given by section 330-240.
mining, quarrying or prospecting right has the meaning given by section 330-240.
more than a 50% stake has the meaning given by section 165-37.
more than 50% of the company’s capital distributions has the meaning given by section 165-160.
more than 50% of the company’s dividends has the meaning given by section 165-155.
more than 50% of the listed public company’s capital distributions has the meaning given by section 166-160.
more than 50% of the listed public company’s dividends has the meaning given by section 166-155.
more than 50% of the voting power has the meaning given by section 165-150.
more than 50% of the voting power in the listed public company has the meaning given by section 166-150.
motor vehicle means any motor-powered road vehicle (including a 4 wheel drive vehicle).
mutual affiliate company has the meaning given by section 121AC of the Income Tax Assessment Act 1936.
mutual insurance company has the meaning given by section 121AB of the Income Tax Assessment Act 1936.
net assessable film income has the meaning given by section 375-815.
net exempt film income has the meaning given by section 375-805.
net exempt income has the meaning given by section 36-20.
notional employer has the meaning given by section 28-185.
notional loss has the meaning given by sections 165-50 and 165-75.
notional shareholder has the meaning given by section 166-230.
notional taxable income has the meaning given by sections 165-50 and 165-75.
ordinary income has the meaning given by section 6-5.
ownership test period has the meaning given by sections 165-12 and 165-37.
ownership test time has the meaning given by section 166-145.
partnership means an association of persons carrying on business as partners or in receipt of *ordinary income or *statutory income jointly, but does not include a company.
part of a substantial shareholding has the meaning given by section 166-245.
PAYE earner means an employee as defined by section 221A of the Income Tax Assessment Act 1936.
PAYE earnings means salary or wages as defined by section 221A of the Income Tax Assessment Act 1936.
PDF (pooled development fund) means a company that is a PDF within the meaning of the Pooled Development Funds Act 1992.
person includes a company.
petroleum has the meaning given by section 330-25.
petroleum mining has the meaning given by section 330-5.
petroleum resource rent tax has the meaning given by section 330-350.
plant means plant or articles within the meaning of section 54 of the Income Tax Assessment Act 1936.
pool of construction expenditure has the meaning given by section 43-85.
pooled development fund means a *PDF.
position to affect rights has the meaning given by section 975-150.
pre-mining condition of a site has the meaning given by section 330-440.
priority agreement has the meaning given by subsection 61-315(2).
private company means a company that is not a *public company for the income year.
processed materials has the meaning given by section 330-390.
public body has the meaning given by section 330-380.
public company means a company that is a public company (as defined by section 103A of the Income Tax Assessment Act 1936) for the income year.
purpose of producing assessable income: something is done for the purpose of producing assessable income if it is done:
(a) for the purpose of gaining or producing assessable income; or
(b) in carrying on a *business for the purpose of gaining or producing assessable income.
qualifying interest in relation to an *exploration or prospecting authority has the meaning given by section 330-170.
qualifying investor has the meaning given by section 43-220.
qualifying purpose has the meaning given by section 330-480.
quarry materials has the meaning given by section 330-25.
quasi-ownership right over land means:
(a) a lease of the land; or
(b) an easement in connection with the land; or
(c) any other right, power or privilege over the land, or in connection with the land.
recreation includes amusement, sport or similar leisure-time pursuits.
redeemable shares means:
(a) *shares that are liable to be redeemed; or
(b) shares that, at the option of the company that issued them, are liable to be redeemed.
rehabilitation has the meaning given by section 330-440.
related to an exploration or prospecting authority has the meaning given by sections 330-200 and 330-210.
relative of a person means:
(a) the person’s *spouse; or
(b) the parent, grandparent, brother, sister, uncle, aunt, nephew, niece, lineal descendent or adopted child of that person, or of that person’s spouse; or
(c) the spouse of a person referred to in paragraph (b).
relevant interest has the meaning given by Division 5 of Part 1.2 of the Corporations Law.
research and development activities has the meaning given by section 73B of the Income Tax Assessment Act 1936.
retention authority has the meaning given by section 330-205.
retention period has the meaning given by sections 28-150, 900-25, 900-75 and 900-90.
same business test has the meaning given by Subdivision 165-E.
same business test period has the meaning given by sections 165-13, 165-15, 165-35, 165-40, 165-45, 166-5 and 166-20.
scheme means:
(a) any *arrangement; or
(b) any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.
share in a company means a share in the capital of the company, and includes stock.
shareholding interest has the meaning given by section 175-65.
special company means:
(a) a *mutual affiliate company; or
(b) a *mutual insurance company; or
(c) a trade union registered under an *Australian law; or
(d) a *sporting club; or
(e) a company that is prescribed by the regulations.
specific deduction has the meaning given by section 8-5.
sporting club means a society, association or *club that:
(a) is established for the encouragement of sport or a game; and
(b) is not carried on for profit to its members.
spouse of a person includes a person who, although not legally married to the person, lives with the person on a genuine domestic basis as the person’s husband or wife.
State law means a law of a State.
statutory income has the meaning given by section 6-10.
substantial continuity of ownership has the meaning given by section 166-145.
substantial shareholding: see part of a substantial shareholding.
superannuation fund has the meaning given by section 10 of the Superannuation Industry (Supervision) Act 1993.
tax means:
(a) income tax imposed by the Income Tax Act 1986, as assessed under this Act; or
(b) income tax imposed as such by any other Act, as assessed under this Act.
taxable income has the meaning given by section 4-15.
Note: For a list of cases where taxable income is worked out in a special way, see subsection 4-15(2).
tax loss means:
(a) a tax loss worked out under section 36-10, 165-70 or 175-35 of this Act; or
(b) a tax loss as defined by section 36-105 (Tax losses for 1989-90 to 1996-97 income years) of the Income Tax (Transitional Provisions) Act 1997; or
(c) a tax loss as defined by section 36-110 (Tax losses for 1957-58 to 1988-89 income years) of the Income Tax (Transitional Provisions) Act 1997.
Note: A *film loss is a special type of tax loss: see section 375-810.
tax offset has the meaning given by section 4-10.
termination value of property: for the purposes of a particular *capital allowance, the termination value of property is worked out as set out in the following table:
|
Item |
For this capital allowance: |
the rules for working out the termination value are in: |
|
1. |
Mining and quarrying: exploration or prospecting |
section 330-490 |
|
2. |
Mining and quarrying: development and operation of a mine or quarry |
section 330-490 |
|
3. |
Mining and quarrying: transporting minerals or quarry materials |
section 330-490 |
Territory law means a law of a Territory.
test period has the meaning given by sections 166-5 and 166-20.
test time has the meaning given by sections 165-13, 165-40, 165-45, 166-5, 166-20 and 330-175.
this Act includes:
(a) the Income Tax Assessment Act 1936; and
(b) Part IVC of the Taxation Administration Act 1953, so far as that Part relates to this Act or the Income Tax Assessment Act 1936;
except in Division 950 (Rules for interpreting this Act).
Note: Subsection (2) of this section prevents definitions in the Income Tax Assessment Act 1997 from affecting the interpretation of the Income Tax Assessment Act 1936.
trading in *shares in a *listed public company, or in units in a unit trust, has the meaning given by section 960-220.
transport capital expenditure has the meaning given by section 330-375.
transport expense has the meaning given by section 900-220.
transport facility has the meaning given by section 330-380.
transport payment has the meaning given by section 900-220.
travel allowance has the meaning given by section 900-30.
travel allowance expense has the meaning given by section 900-30.
travel expense has the meaning given by section 900-95.
treatment has the meaning given by section 330-390.
trustee has the meaning given by subsection 6(1) of the Income Tax Assessment Act 1936.
undeducted construction expenditure has the meaning given by section 43-235 and 43-240.
unrecouped expenditure has the meaning given by section 330-105.
voting share in a company means:
(a) if the company is a body corporate—a voting share as defined by section 9 of the Corporations Law; and
(b) otherwise—a share that would be a voting share as defined by that section if the company were a body corporate.
voting shareholding of less than 1% has the meaning given by section 166-240.
wholly-owned group has the meaning given by section 975-500.
work expense has the meaning given by section 900-30.
written down value of property: for the purposes of a particular *capital allowance, the written down value of property is worked out as set out in the following table:
|
Item |
For this capital allowance: |
the rules for working out the written down value are in: |
|
1. |
Mining and quarrying: exploration or prospecting |
section 330-495 |
|
2. |
Mining and quarrying: development and operation of a mine or quarry |
section 330-495 |
|
3. |
Mining and quarrying: transporting minerals or quarry materials |
section 330-495 |
years remaining has the meaning given by section 330-100.
you has the meaning given by section 4-5.
your area has the meaning given by sections 43-115 and 43-120.
your construction expenditure has the meaning given by sections 43-115 and 43-120.
(2) So far as a provision of the Income Tax Assessment Act 1997 gives an expression a particular meaning, the provision does not also have effect for the purposes of the Income Tax Assessment Act 1936 (the 1936 Act), except as provided in the 1936 Act.
NOTE
1. The Income Tax Assessment Act 1997 as shown in this reprint comprises Act No. 38, 1997 amended as indicated in the Tables below.
Table of Acts
|
Act |
Number |
Date |
Date of commencement |
Application, saving or transitional provisions |
|
Income Tax Assessment Act 1997 |
38, 1997 |
17 Apr 1997 |
1 July 1997 |
|
|
Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997 |
56, 1997 |
30 Apr 1997 |
Schedule 2 (items 7-10): 1 July 1997 (a) |
Sch. 2 (item 10) [see Table A] |
(a) The IncomeTax Assessment Act 1997 was amended by Schedule 2 (items 7-10) only of the Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997, subsection 2(4) of which provides as follows:
"(4) Schedule 2 commences on 1 July 1997, immediately after the commencement of the Income Tax Assessment Act 1997."
Table of Amendments
|
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
|
Provision affected |
How affected |
Chapter 1 |
|
Part 1-4 |
|
Division 13 |
|
|
S. 13-1 |
am. No. 56, 1997 |
Part 2-20 |
|
|
Heading to Part 2-20 |
ad. No. 56, 1997 |
Division 61 |
|
|
Div. 61 of Part 2-20 |
ad. No. 56, 1997 |
Subdivision 61-G |
|
|
Subdiv. 61-G of Div. 61 of Part 2-20 |
ad. No. 56, 1997 |
(ss. 61-300 to 61-320) |
|
|
S. 61-300 |
ad. No. 56, 1997 |
|
S. 61-305 |
ad. No. 56, 1997 |
|
S. 61-310 |
ad. No. 56, 1997 |
|
S. 61-315 |
ad. No. 56, 1997 |
|
S. 61-320 |
ad. No. 56, 1997 |
Chapter 6 |
|
Part 6-5 |
|
Division 995 |
|
|
S. 995-1 |
am. No. 56, 1997 |
TABLE A
Application, Saving or Transitional Provisions
Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997
(No. 56, 1997)
10 Application
(1) The amendments of the Income Tax Assessment Act 1936 apply to assessments in respect of income for the 1997-98 year of income and all later years of income.
(2) The amendments of the Income Tax Assessment Act 1997 apply to assessments in respect of income for the 1997-98 income year and all later income years.